Account Recovery

MARCH 6, 2024

CFPB Finalizes Credit Card Late Payment Rule; Chamber Vows to Sue Judge Vacates Prior Ruling, Says Defendant Not Liable in FDCPA, FCRA Case Report Calls Out Student Loan Servicer for ‘Call Deflection’ Scheme 25 Companies Seeking Collection Talent WORTH NOTING: The best online flower delivery service … Four things you need to know about Bitcoin […]

Student loans 147

Student loans Student Loans Loans Collections 147

Sawin & Shea

MARCH 6, 2024

Being overwhelmed by debt is a stressful situation that can make it challenging to decide on the best path forward. Two of the most common options for dealing with unmanageable debt are filing for bankruptcy and pursuing debt consolidation. However, the choice between these two approaches depends greatly on individual circumstances. Bankruptcy and debt consolidation are distinct solutions, each with advantages and potential drawbacks.

Debt Consolidation 52

Debt Consolidation Bankruptcy Chapter 13 bankruptcy Chapter 7 bankruptcy 52

Account Recovery

MARCH 6, 2024

A District Court judge has reconsidered his position after a bench trial and has found that a collector did not violate the Fair Credit Reporting Act because the plaintiffs failed to show there was any liability for the company.

147

147

Troutman Sanders

MARCH 6, 2024

On February 15, Massachusetts became the latest state to introduce legislation to regulate earned wage access (EWA) products and services. House Bill (HB) 4456 would create a new chapter to the Massachusetts Code explicitly stating that EWA services offered under the new chapter are not loans or other form of credit or debt, and voluntary tips or gratuities are not interest or finance charges.

Credit Unions 52

Credit Unions Credit Unions Banks Debt collector 52

Speaker: Mark Stovel

When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.

Account Recovery

MARCH 6, 2024

An investigation conducted by an advocacy group and a teacher’s union has uncovered what a report is calling a years-long “call deflection” campaign by the student loan servicing company handling the Public Service Loan Forgiveness program to deny borrowers access to information that could help them have their student loans forgiven.

Student loans 130

Student loans Student Loans Loans 130

Account Recovery

MARCH 6, 2024

During this, The Great Resignation Era, I thought it would be helpful to start a regular posting of different jobs within the accounts receivable management industry that I have found online. Please make sure to do your own due diligence before applying for a position included here or accepting any offers.

Accounts Receivables Management 130

Accounts Receivables Management Collections 130

BN Lawyers

MARCH 6, 2024

Barron & Newburger, P.C. will sponsor an annual Scholarship, pledging $50,000 over five years to the National Creditors Bar Association (NCBA) Foundation. Funds will support a $10,000 per year college scholarship. Application forms can be found at creditorsbar.org/scholarship. Established in 2022, the NCBA Foundation was created to guide and complement the charitable initiatives of the National Creditors Bar Association.

Education 40

Education Creditors Collections 40

Account Recovery

MARCH 6, 2024

The Consumer Financial Protection Bureau has determined that the cost of collecting on unpaid credit card debts for larger companies can be covered by charging an $8 late payment fee, but will allow those issuers to charge more if they are willing to show why their collection costs are higher than that threshold.

Credit Card Debt 130

Credit Card Debt Collections 130

NACM

MARCH 6, 2024

B2B credit is fiercely competitive, particularly in sectors where credit is crucial for transactions. This is why credit professionals should continuously master their skills and broaden their knowledge in credit management. The Certified International Credit Professional (CICP) designation for example, earned through NACM's six-level Professional.

Credit Management 5

Credit Management 5

Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert

In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant (or getting "ghosted") if they fail to meet the evolving needs of Gen Z consumers. Credit cards with flexible payment options, especially for young adults with little-to-no credit history, are a particularly important and valuable solution for this generation.

Banks

Collection Industry News

MARCH 6, 2024

President Biden will announce a new effort on Monday to reduce or eliminate student loan debt for millions of borrowers, an election-year attempt to revive his goal of providing large-scale relief for Americans struggling to pay off their college loans, a person familiar with the plan said Friday. Mr. Biden is expected to preview new regulations by the Education Department targeting millions of borrowers, including those whose loans have ballooned because of accrued interest and others who can d

Student loans 40

Student loans Student Loans Loans Accrued Interest 40